Optimal scheduling of air traffic over the entire National Airspace System is a computationally difficult task. To speed computation, Dantzig-Wolfe decomposition is applied to a known linear integer programming approach for assigning delays to flights. The optimization model is proven to have the block-angular structure necessary for Dantzig-Wolfe decomposition. The subproblems for this decomposition are solved in parallel via independent computation threads. Experimental evidence suggests that as the number of subproblems/threads increases (and their respective sizes decrease), the solution quality, convergence, and runtime improve. A demonstration of this is provided by using one flight per subproblem, which is the finest possible decomposition. This results in thousands of subproblems and associated computation threads. This massively parallel approach is compared to one with few threads and to standard (non-decomposed) approaches in terms of solution quality and runtime. Since this method generally provides a non-integral (relaxed) solution to the original optimization problem, two heuristics are developed to generate an integral solution. Dantzig-Wolfe followed by these heuristics can provide a near-optimal (sometimes optimal) solution to the original problem hundreds of times faster than standard (non-decomposed) approaches. In addition, when massive decomposition is employed, the solution is shown to be more likely integral, which obviates the need for an integerization step. These results indicate that nationwide, real-time, high fidelity, optimal traffic flow scheduling is achievable for (at least) 3 hour planning horizons.